Mr. John Carter reports

SILVER BULLET MINES PROVIDES UPDATE ON THIRD PARTY MATERIAL AND ON THE BUCKEYE SILVER MINE

Silver Bullet Mines Corp. is nearing completion of the testing of the third party stockpile announced May 2, 2024. A random bulk sample of roughly 350 tons of mineralized material was taken from the stockpile and transported from the third party's past-producing silver mine to Silver Bullet's mill in Globe, Ariz., for testing.

The nature of the material is unknown to Silver Bullet. Silver Bullet had to take multiple assays throughout the process and reduce the number of tons per hour of material processed through the mill (one to 1.5 tons per hour). This ensured accurate data on the silver grade recovered and on the grade sent to tailings. As a result it has taken more time to process this material than the time management expects will be needed to process host rock from the Buckeye silver mine.

The material had been historically crushed by third parties. At Silver Bullet's mill the material is recrushed, screened, reground and processed through Silver Bullet's state-of-the-art gravity circuit to produce a silver concentrate. That concentrate is then prepared for the production of silver dore bars.

Upon completion of flux tests Silver Bullet recently poured the first silver dore bar from the material, of approximately 2551.1 grams (90 ounces). Subsequently an additional 2,834.9 grams (100 ounces) silver dore bar has been poured. Management believes these dore bars to be fairly representative of the quality of the material overall. These bars will be tested by Silver Bullet by X-ray fluorescence prior to shipping.

The company continues to pour silver dore bars from remaining concentrated material. The final dore bars from the bulk sample should be completed in the next three weeks or so. Once all bars have been tested Silver Bullet can calculate the gross amount of recovered silver and an average grade, to estimate the economics of proceeding to process the remaining 30,0000 tons of material at the third party site, or if thought appropriate, negotiate toward an agreement to acquire the past-producing silver mine.

Processing the material demonstrates the company is capable of handling a wide variety of mineralized material to produce saleable products. This enables Silver Bullet to generate revenue while it advances on the MSHA required work at the Buckeye silver mine, showing that the Silver Bullet business plan is working.

Rock bolting continues at the Buckeye silver mine, on budget and on schedule. More than 400 feet of rock bolting has been completed to date. The Hallway is the zone parallel to the Treasure Room. The Hallway was drifted by Silver Bullet to bypass unsafe conditions in the Treasure Room. The host material in the Hallway is very hard, difficult to drill and consumes one drill bit for every three holes drilled. The rock bolting team is now out of the Hallway and management expects the rock bolting to proceed more quickly.

The company will continue to provide updates on processing the material into silver dore bars and on the Buckeye silver mine.

Quality assurance/quality control

The material described above is assayed at multiple stages of the process. The assay results will provide input as to any adjustments that may be necessary to improve production efficiencies.

In accordance with best practices, multiple assays will be sent to third party ISO-accredited labs for multielement analysis, including precious metals and platinum group metals. Readers are cautioned that these samples may not be representative of the material as a whole, and not all assay results will be disclosed.

All samples above were analyzed by Silver Bullet at its facility near Globe, Ariz. They were processed through the lab jaw crusher, lab hammer mill and splitter box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degrees Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of six to one distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found on Silver Bullet's website.

Robert G. Komarechka, PGeo, an independent consultant, has reviewed and verified Silver Bullet's work referred to herein, and is the qualified person for this release.

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